Sensex Trades Flat on Mixed Global Cues

Indian equity indices opened flat on Tuesday following mixed global cues.

At 9.38 a.m., Sensex was at 81,409, up 53 points. Nifty was up 24 points or 24,860.

The market trend remained positive. On the National Stock Exchange (NSE), 1,488 shares remained in the green and 538 shares remained in the red.

Among the sectoral indices, FMCG, realty, media, energy, and commodity were in the green. However, IT, pharma, fin Service, and pharma were the major losers.

Midcap and smallcap indices remained bullish as compared to largecap indices. The Nifty Midcap 100 index was at 58,537, up 175 points or 0.30 per cent, and the Nifty Smallcap 100 index was at 19,155, up 112 points or 0.59 per cent.

NTPC, Power Grid, Asian Paints, HUL, Tata Motors, and Tech Mahindra were the top gainers in the Sensex pack. UltraTech Cement, Bajaj Finserv, Sun Pharma, M&M, and Tata Steel were the top losers.

According to the market experts, "Sustained capital flows into mutual funds and the retail investor enthusiasm will keep the market resilient. The elevated valuations continue to be a concern, particularly in the broader market."

"A healthy trend in the market now is that high-quality stocks with good earnings visibility are gaining strength on buying by institutions," They added.

Global markets were trading with mixed cues. Tokyo, Jakarta, Seoul, and Hong Kong were in the green. Bangkok was in the red. US markets closed mixed.